PayPal Holdings Inc. edged above expectations with its quarterly revenue and earnings outlook Wednesday, though the company fell short of a margin metric for the latest quarter due to dynamics within its credit business. The payments company reported second-quarter net income of $1.03 billion, or 92 cents a share, whereas PayPal
recorded a net loss of $341 million, or 29 cents a share, in the year-earlier period. On an adjusted basis, PayPal earned $1.16 a share, up from 93 cents a share a year prior, while the FactSet consensus was for $1.15 a share.
Revenue increased to $7.29 billion from $6.81 billion, whereas analysts were modeling $7.27 billion. The company logged $376.5 billion in total payment volume for the period, while analysts had been expecting $368.9 billion. “We have high confidence that our business is on the right path and we’re seeing clear signs that the investments we’ve made are paying off,” Chief Executive Dan Schulman said in a statement. Don’t miss: Mastercard earnings bring latest signal of healthy spending PayPal reported an adjusted operating margin of 21.4% for the second quarter, below the 22% outlook that the company had given previously. In its investor deck, the company attributed the shortfall primarily to its credi …